Evolution Global Acquisition Corp. Files 10-K, Reports $4.11 Million Net Loss for Period Ending December 31, 2025

Evolution Global Acquisition Corp. (EVOX) Files 10-K, Reports Financial Results for Period Ending December 31, 2025

Evolution Global Acquisition Corp., a special purpose acquisition company (SPAC), filed its 10-K report with the SEC, detailing its financial performance for the period from June 26, 2025 (inception) through December 31, 2025. As a blank check company, EVOX has not yet commenced operations and did not generate any revenue during this period. The company's primary focus has been on organizational activities related to its initial public offering (IPO) and identifying a target for a potential business combination.

The company reported a net loss of $4.11 million for the period. This loss was primarily driven by $5.03 million in compensation expenses and $287,063 in operating costs. These expenses were partially offset by $1.21 million in interest earned on investments held in the company's trust account. As of December 31, 2025, EVOX held $1.12 million in cash and had a working capital surplus of $1.04 million. The company's total assets amounted to $242.47 million, including $241.21 million held in a trust account invested in U.S. Treasury funds.

EVOX completed its IPO on November 12, 2025, offering 24 million units at $10.00 per unit, resulting in gross proceeds of $240 million. Simultaneously, the company sold 6.8 million private placement warrants to its sponsor and underwriters for $1.00 per warrant, generating $6.8 million in gross proceeds. A total of $240 million from these proceeds was placed into a trust account, to be used for a future business combination. The company incurred $15.04 million in transaction costs related to the IPO, including underwriting fees and other offering expenses.

Looking ahead, EVOX intends to use the funds held in trust to complete a business combination within 24 months of the IPO. The company will offer public shareholders the opportunity to redeem their shares in connection with the business combination. If EVOX is unable to complete a business combination within the specified timeframe, it will redeem its public shares at a per-share price equal to the amount then on deposit in the trust account. The company's strategy is to identify and acquire a business that can benefit from its management team's expertise and global relationships, with a focus on companies operating in the metals and mining or infrastructure segments.